Post Utme Esut 2023 Economics Question 23

Practice objective / multiple choice question 23 from the 2023 Post Utme Esut Economics examination.

Post Utme Esut 2023 Economics Objective / Multiple Choice
Question 23 POST_UTME_ESUT • 2023 • ECONOMICS • objective

A firm's \cost function is given by C = 2L + 3H, where C is \cost, L is labor, and H is capital. If the firm wants to minimize \cost while producing 100 units of output, what is the optimal combination of labor and capital?

Answer Options

Correct Answer A. L = 20, H = 30
B. L = 30, H = 20
C. L = 40, H = 10
D. L = 50, H = 5
Correct Answer
A
Correct Option:
L = 20, H = 30

About This Question

This is Post Utme Esut 2023 Economics Question 23. It is one of the objective questions from the 2023 Post Utme Esut Economics examination.

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